Shorts accountants

Shorts advisors support businesses to grow

Chesterfield-based accountancy practice Shorts continues to support businesses with financial advice, assisting in business acquisitions and helping one company transition to employee ownership.

The company recently advised Sheffield-based Abbeydale Brewery Ltd as it moved towards becoming an Employee Ownership Trust, strengthening the commitment to its talented team, safeguarding its long-standing values and securing the legacy of the business.

Shorts acted as lead advisors on the transaction, including valuation, fundraising, tax advice and project management.

Connor Marshall of Shorts added “It has been great to work alongside MD Law in transitioning such a well-known, acclaimed business into becoming an Employee-Owned Business. From the start the Shareholders and Senior Management Team wanted to do what was best for the employees and, with the implementation of the EOT, this solidifies the prospects of both the business and employees for the longer term. We all look forward to seeing the continued success of such a prominent Sheffield business.”

Elsewhere, Shorts has assisted in the expansion of AxFlow UK, advising on the acquisition of Moody Direct Ltd, a long-established supplier of solutions and services to the dairy, food & beverage, brewery, chemical, and pharmaceutical sectors headquartered in Retford.

Shorts’ Corporate Finance team were lead advisers to Moody Direct and Wake Smith solicitors provided legal advice to the sellers.

Andy Ryder, Corporate Finance Parner at Shorts, said: “We are delighted to have successfully concluded this transaction on behalf of the owners of Moody Direct, Ken and David. It has been a pleasure for our team of myself, Adam
Ames, Brian Gooch and Ahad Choudry to work with them on this international deal and we look forward to hearing of the continued success of this great business as it becomes part of the Swedish owned Axel Johnson AB Group, giving it access to further fantastic opportunities.”

Shorts supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

Group of people working for financial advice firm and brewery smiling to camera

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Strength of Chesterfield’s financial & legal sector on show at South Yorkshire Dealmakers Awards

Several Chesterfield-based financial and legal companies are celebrating success, with nominations in the 2023 South Yorkshire Dealmakers Awards.

Mitchells Chartered Accountants, Banner Jones Solicitors, Shorts Accountants and BRM Solicitors have all made the shortlist across several categories.

The South Yorkshire Dealmakers Awards celebrates leading banking, funding, legal and accountancy businesses across the region. The winners will be announced at a black-tie dinner, which will be held at Sheffield City Hall on Thursday 8th June.

Mitchells Chartered Accountants

mitchells rob and tony

Chesterfield-based Mitchells Chartered Accountants has been shortlisted for the South Yorkshire Dealmakers award for “National/International Deal of the Year.”

Being shortlisted for this prestigious award comes after the firm won the “Deal of the Year £10m+” at the Sheffield City Region Dealmakers Awards in 2021.

Tony Hornsby, Corporate Finance Partner at Mitchells, said: “It has been a privilege to support our client’s growth ambitions with this acquisition. It is a real testament to what our award-winning corporate finance team can deliver and delighted to be shortlisted for the National/International Deal of the Year”

Rob Drake, Corporate Finance Executive at Mitchells, said: “In today’s competitive business environment, companies need tailored help to grow and succeed. Our boutique corporate finance team is perfectly placed to provide cost-effective industry expertise delivered with personal attention and it is wonderful to see this recognised regionally by being shortlisted for the South Yorkshire Dealmakers award”.

Shorts

SHORTS corporate finance team

 

The Shorts team is very excited to have been shortlisted 6 times across 5 categories for the 2023 Insider South Yorkshire Dealmakers Awards.

It has been a great year for the firm’s Corporate Finance team, which is now celebrating with the following award nominations.

  • Corporate Finance Advisory Firm of the Year
  • Dealmaker of the Year: Andy Ryder
  • (2x) Deal of the Year (£10m+): Acquisition of AML Juratek by Fras-le, and Management buyout of Wincro Metal Industries
  • Equity Deal of the Year: Investment in Sitehop by Mercia
  • Innovation Investment Award: Investment in Sitehop by Mercia

Following the announcement of the award nominations, Andy Ryder, Corporate Finance Partner at Shorts who is himself nominated for the Dealmaker of the Year Award, said: “It is great to see the expertise of the Shorts team being reflected in these nominations. We have had a record-breaking year, with some fantastic transactions completed, and we are proud to see that hard work being recognised. We have a great team and with an exciting pipeline of opportunities, we are looking forward to another successful year”

Shorts are no strangers to the Insider Dealmakers Awards, with previous wins in a number of different categories.

  • 2020: Deal of the Year (up to £2.5m)
  • 2018: Emerging Dealmaker of the Year (Ellie Wilcockson)
  • 2018: National/International Deal of the Year
  • 2018: Deal of the Year (up to £2.5m)
  • 2017: Mid-market Deal of the Year

Banner Jones Solicitors

Andrew Fielder 873

Leading regional law firm Banner Jones has been shortlisted alongside Translink Corporate Finance in the National/International Deal of the Year category.

The announcement sees the firm’s Business Legal Services department receive recognition for the role it played in advising the shareholders of Chesterfield-based The Corrugated Case Company (CCC), in a major acquisition deal with the UK arm of the global packaging specialist, Tri-Wall, which completed last summer.

CCC is a specialist designer and manufacturer of corrugated cardboard packaging. The company supplies innovative, design led packaging solutions to customers in a range of sectors including retail, food & drink, pharmaceutical and manufacturing.

Andrew Fielder from Banner Jones’ Business Legal Services department – supported by colleagues Tim Barley, Katie Ash and Sara Patel – advised the sellers on all aspects of the share disposal, and of the separate sale of the businesses trading premises.

BHP Corporate Finance (BHPCF) acted as lead advisor to the shareholders of The Corrugated Case Company Limited (CCC) on its acquisition by Tri Wall UK.

A BHPCF team led by Partner Kevin Davies and Assistant Director Declan Savage, ran a competitive sale process, working alongside colleagues from its global Translink Corporate Finance network.

Banner Jones will now join South Yorkshire’s leading banking, funding, legal and accountancy communities at Sheffield City Hall on Thursday 8th of June for the prestigious, black-tie awards ceremony, hosted by South Yorkshire Business Insider, and compèred by comedian Fred MacAulay.

Commenting on the shortlisting Andrew Fielder from Banner Jones’ Business Legal Services department, said: “We are delighted to have received recognition for the work carried out on the CCC acquisition deal, alongside the team at Translink Corporate Finance.

“The South Yorkshire Dealmaker Awards provide a unique opportunity for the local deals community to get together to celebrate our successes, and we are absolutely thrilled to have been shortlisted in the National/International Deal of the Year category.”

BRM Solicitors

BRM Solicitors Trevor Bird and Sarah Rowland

Chesterfield’s BRM Solicitors has also been shortlisted for two awards at this year’s event:

  • Equity Deal of the Year
  • Corporate Law Firm of the Year

Commenting on the nominations, BRM’s Sarah Rowland said: “I’m incredibly proud that we’ve been nominated, it really is a testament to the hard work of the team, and we take great pride in going the extra mile for our clients and getting the results they need.”

Mitchells Chartered Accountants and Business Advisers, Shorts, Banner Jones Solictors and BRM Solicitors support the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

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Shorts acts as lead advisor on £18 million sale of car parts manufacturer

Shorts recently teamed up with Freeths to act as lead advisors and legal representatives to AML Juratek Ltd in their sale to Brazilian car parts manufacturer, Fras-Le in a deal worth £18.2m.

Founded in 1995, Juratek Ltd supply high-quality automotive aftermarket braking products for both Light & Commercial Vehicles, from its head office in Doncaster.

The Company employs 50+ people and distributes around the world. Matt Robinson (Managing Director), Toby Whewell (Sales & Marketing Director) and Mark Clegg (Operations Director) took over full control of the business in 2019 following a Management Buyout, and the business subsequently acquired Braking specialists Bettaparts in 2021 before now selling to Fras-le.

Andy Ryder, Partner at Shorts commented “Having assisted Matt, Toby and Mark through a number of transactions over the last 4 years, it has been an absolute pleasure to have advised them through the latest stage of the Juratek journey.”

Matt Robinson added: “We were delighted to conclude the transaction with the support of Shorts and Freeths. It is a fantastic deal for the shareholders but also the start of an exciting journey for the company under the ownership of Fras-Le.”

On announcing the news, President and CEO of Fras-le, Sergio L. Carvalho was quoted on Fras-le’s website as saying: “With this strategic action we reaffirm our position as one of the largest portfolios of brands for the auto parts aftermarket, expanding the model that has been working in Brazil for new markets; allowing even more growth, important operational synergies and adding value to our business and quality in delivering solutions to our customers.”

With a long-standing heritage of over 130 years, Shorts has grown from a local business to a nationally recognised award-winning firm which is home to a wide range of experts and specialists.

Shorts supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

Shorts Juratek sale

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Local Energy firm transitions to Employee Ownership

Shorts Chartered Accountants recently teamed up with Knights plc to act as corporate finance, tax advisors and legal representatives as Cost Advice Energy Specialists (Cost Advice) transitioned to an Employee Ownership model.

Established in 1995, and previously owned by brothers Christopher and Stephen Ball, the Company strives to set the benchmark for providing quality advice for commercial energy customers on the best ways for them to purchase and manage their electricity and gas.

Over its history, the business has expanded into a team of professionals who assist businesses across Britain, ranging from small independent retailers to large multi-site organisations.

On completing the transition, Stephen Ball commented: “Chris and I are extremely proud of the company and how it has grown and evolved over the last 26 years, and it is important to us that we protect its legacy and ensure it remains independent.

“Employee ownership provided a way for us to do this; it’s progressive and forward-thinking and provides a way to give back to our loyal and talented workforce who have helped to make Cost Advice what it is today. The company is going from strength-to-strength and now is the perfect time to start our exciting new chapter.”

Speaking about the transition to employee ownership, Shorts Corporate Finance Partner, Andy Ryder said: “We would like to extend our congratulations to Cost Advice and its new employee owners.

“Having discussed various succession planning options with Stephen and Chris, it was clear that the EOT route would best meet their overall objectives.

“Businesses that choose the EOT route build trust and shared responsibility. and we are confident that this will result in a very positive future for the business. We look forward to seeing Cost Advice’s continuing success under their new ownership model.”

Shorts supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

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Shorts hires Lynne Gill as senior VAT manager

Chesterfield Champion, Shorts Chartered Accountants, are delighted to announce the appointment of Lynne Gill as Senior VAT Manager.

An indirect tax specialist with over 35 years’ experience, Lynne joined the Shorts Tax Planning Team at the start of October 2021.

Lynne’s previous roles have included 27 years at HMRC, where she worked as a VAT inspector dealing primarily with small and medium enterprises, before later moving on to large national businesses.

Following her time at HMRC, Lynne worked for a large, independent regional accountancy firm, before working for a company providing specialist VAT advice and VAT compliance services to the healthcare sector.

Scott Burkinshaw, Tax Partner at Shorts, said: “We’re delighted to welcome a highly experienced specialist such as Lynne on board. VAT is a tax that pops up everywhere, often without people realising, so bolstering our VAT advisory capacity is very important to enable us to continue to offer our clients high quality, comprehensive tax advice.”

Speaking about her appointment, Lynne said: “I am delighted to be joining one of the most reputable and ambitious Chartered Accountancy firms in the region, and very excited to be working with such a talented and dedicated team. I’m looking forward to bringing my experience and knowledge of VAT to a tax team which has proved to be highly effective in helping regional businesses reach their goals.”

Shorts is recognised as an award-winning, leading regional firm, using deep knowledge, technology, and expertise to find new ways to make clients’ business better and their personal finances stronger.

This appointment will further strengthen Shorts’ reputation for excellence in tax planning and advice, and will solidify the firm’s position as a regional leader in all things VAT.

Shorts Chartered Accountants supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 180 organisations across Chesterfield and North Derbyshire.

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Chesterfield accountant Shorts leads the way on completing Chase Hardware management buyout

Chesterfield-based accountancy firm Shorts recently teamed up with Bell & Buxton and HSBC UK to act as lead advisors, legal representatives, and funders on the management buy-out of architectural ironmongery and general hardware distributers, Chase Hardware Ltd.

Chase Hardware Ltd was founded in 1978, with their head office based in Uttoxeter. Existing Director James Thomas has now taken full control following the acquisition of 100% of the share capital from the long-term owner Robert Roebuck.

Andy Ryder, Corporate Finance Partner with Shorts comments: “In these challenging times it is fantastic to see that transactions can be successfully completed. Chase is a great business and James has been key to driving that success over recent times. It was therefore a pleasure for myself and Adam Ames to advise James on completing the buy-out and we expect to see the business continue to go from strength to strength.”

Corporate Finance Partner at Bell & Buxton, Alex Ross added “Although funded corporate transactions have been difficult to complete since lockdown began, HSBC clearly bought into the ability of James as a manager and an individual and were very proactive in ensuring this deal was completed on pre-lockdown terms. James’ tenacity in ensuring the deal completed after months of delays should stand the business well in the future.”

James Thomas added “Having been in The Hardware & Ironmongery business for over 20 years and with Chase Hardware for the last 10 years, I am delighted to finally complete the management buy-out and to drive the business forward. We have a young dynamic team that are all excited to modernise the business, work more closely with our customers and firmly re-establish our identity in the market. Although it was a rollercoaster ride to get the deal done during such a difficult time, the company proved to be robust enough to trade successfully during the lockdown period. We reported continued growth and things are now looking even brighter for our future success.”
HSBC were advised by Duncan Shepherd of Wake Smith (legal advice) and Hawsons (financial due diligence), and the vendors were advised by Joanna Dawson of Dawson Radford Solicitors.

With a long-standing heritage of 130 years, Shorts has grown from a local business to a nationally recognised award-winning firm. Shorts supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 180 organisations across Chesterfield and North Derbyshire.

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